When Insurers Go Bust : : An Economic Analysis of the Role and Design of Prudential Regulation / / Guillaume Plantin, Jean-Charles Rochet.
In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the...
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2009] ©2007 |
Year of Publication: | 2009 |
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Plantin, Guillaume, author. aut http://id.loc.gov/vocabulary/relators/aut When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / Guillaume Plantin, Jean-Charles Rochet. Course Book Princeton, NJ : Princeton University Press, [2009] ©2007 1 online resource (112 p.) text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Foreword -- Acknowledgements -- 1. Introduction -- 2. Four Recent Cases of Financially Distressed Insurers -- 3. The State of the Art in Prudential Regulation -- 4. Inversion of the Production Cycle and Capital Structure of Insurance Companies -- 5. Absence of a Tough Claimholder in the Financial Structure of Insurance Companies and Incomplete Contracts -- 6. How to Organize the Regulation of Insurance Companies -- 7. The Role of Reinsurance -- 8. How Does Insurance Regulation Fit within Other Financial Regulations? -- 9. Conclusion: Prudential Regulation as a Substitute for Corporate Governance -- References restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the current approach to insurance regulation should be replaced with mechanisms that replicate the governance of non-financial firms. Rather than immediately addressing the minutiae of supervision, Guillaume Plantin and Jean-Charles Rochet first identify a fundamental economic rationale for supervising the solvency of insurance companies: policyholders are the "bankers" of insurance companies. But because policyholders are too dispersed to effectively monitor insurers, it might be efficient to delegate monitoring to an institution--a prudential authority. Applying recent developments in corporate finance theory and the economic theory of organizations, the authors describe in practical terms how such authorities could be created and given the incentives to behave exactly like bankers behave toward borrowers, as "tough" claimholders. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021) BUSINESS & ECONOMICS / Economics / General. bisacsh Rochet, Jean-Charles, author. aut http://id.loc.gov/vocabulary/relators/aut Shin, Hyun Song, contributor. ctb https://id.loc.gov/vocabulary/relators/ctb Shin, Hyun Song. Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 9783110442502 print 9780691129358 https://doi.org/10.1515/9781400827770 https://www.degruyter.com/isbn/9781400827770 Cover https://www.degruyter.com/cover/covers/9781400827770.jpg |
language |
English |
format |
eBook |
author |
Plantin, Guillaume, Plantin, Guillaume, Rochet, Jean-Charles, |
spellingShingle |
Plantin, Guillaume, Plantin, Guillaume, Rochet, Jean-Charles, When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / Frontmatter -- Contents -- Foreword -- Acknowledgements -- 1. Introduction -- 2. Four Recent Cases of Financially Distressed Insurers -- 3. The State of the Art in Prudential Regulation -- 4. Inversion of the Production Cycle and Capital Structure of Insurance Companies -- 5. Absence of a Tough Claimholder in the Financial Structure of Insurance Companies and Incomplete Contracts -- 6. How to Organize the Regulation of Insurance Companies -- 7. The Role of Reinsurance -- 8. How Does Insurance Regulation Fit within Other Financial Regulations? -- 9. Conclusion: Prudential Regulation as a Substitute for Corporate Governance -- References |
author_facet |
Plantin, Guillaume, Plantin, Guillaume, Rochet, Jean-Charles, Rochet, Jean-Charles, Rochet, Jean-Charles, Shin, Hyun Song, Shin, Hyun Song, Shin, Hyun Song. |
author_variant |
g p gp g p gp j c r jcr |
author_role |
VerfasserIn VerfasserIn VerfasserIn |
author2 |
Rochet, Jean-Charles, Rochet, Jean-Charles, Shin, Hyun Song, Shin, Hyun Song, Shin, Hyun Song. |
author2_variant |
j c r jcr h s s hs hss h s s hs hss h s s hs hss |
author2_role |
VerfasserIn VerfasserIn MitwirkendeR MitwirkendeR TeilnehmendeR |
author_sort |
Plantin, Guillaume, |
title |
When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / |
title_sub |
An Economic Analysis of the Role and Design of Prudential Regulation / |
title_full |
When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / Guillaume Plantin, Jean-Charles Rochet. |
title_fullStr |
When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / Guillaume Plantin, Jean-Charles Rochet. |
title_full_unstemmed |
When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / Guillaume Plantin, Jean-Charles Rochet. |
title_auth |
When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / |
title_alt |
Frontmatter -- Contents -- Foreword -- Acknowledgements -- 1. Introduction -- 2. Four Recent Cases of Financially Distressed Insurers -- 3. The State of the Art in Prudential Regulation -- 4. Inversion of the Production Cycle and Capital Structure of Insurance Companies -- 5. Absence of a Tough Claimholder in the Financial Structure of Insurance Companies and Incomplete Contracts -- 6. How to Organize the Regulation of Insurance Companies -- 7. The Role of Reinsurance -- 8. How Does Insurance Regulation Fit within Other Financial Regulations? -- 9. Conclusion: Prudential Regulation as a Substitute for Corporate Governance -- References |
title_new |
When Insurers Go Bust : |
title_sort |
when insurers go bust : an economic analysis of the role and design of prudential regulation / |
publisher |
Princeton University Press, |
publishDate |
2009 |
physical |
1 online resource (112 p.) Issued also in print. |
edition |
Course Book |
contents |
Frontmatter -- Contents -- Foreword -- Acknowledgements -- 1. Introduction -- 2. Four Recent Cases of Financially Distressed Insurers -- 3. The State of the Art in Prudential Regulation -- 4. Inversion of the Production Cycle and Capital Structure of Insurance Companies -- 5. Absence of a Tough Claimholder in the Financial Structure of Insurance Companies and Incomplete Contracts -- 6. How to Organize the Regulation of Insurance Companies -- 7. The Role of Reinsurance -- 8. How Does Insurance Regulation Fit within Other Financial Regulations? -- 9. Conclusion: Prudential Regulation as a Substitute for Corporate Governance -- References |
isbn |
9781400827770 9783110442502 9780691129358 |
url |
https://doi.org/10.1515/9781400827770 https://www.degruyter.com/isbn/9781400827770 https://www.degruyter.com/cover/covers/9781400827770.jpg |
illustrated |
Not Illustrated |
doi_str_mv |
10.1515/9781400827770 |
oclc_num |
979576849 |
work_keys_str_mv |
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status_str |
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ids_txt_mv |
(DE-B1597)446567 (OCoLC)979576849 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
is_hierarchy_title |
When Insurers Go Bust : An Economic Analysis of the Role and Design of Prudential Regulation / |
container_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
author2_original_writing_str_mv |
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